Jobs created, but some stats misleading

71 jobs were created in Ulster County as a result of the projects cited in an IDA report, but it also noted that such statistics can be misleading.

Businesses in Ulster County last year used $169,444 worth of sales tax exemptions granted by the county Industrial Development Agency, as well as $157,500 in mortgage recording tax exemptions, according to a new state report.

The sales tax exemptions, used by a combined three companies, were the 11th highest among those issued by 59 such agencies statewide, according to the report; the mortgage tax exemptions ranked 21st in the state.

The report said 71 jobs were created in Ulster County as a result of the projects cited in the report, the 18th most statewide, but it also agreed with representatives of IDAs statewide that such statistics can be misleading.

“The success of IDA projects in meeting jobcreation expectations can best be assessed over time,” the report stated. “New IDA projects are usually not expected to result in immediate employment changes, but new jobs are created over time as project construction is finished and the benefited companies build capacity.”

The report, issued by the state Authorities Budget Office and called the “Annual Report on Public Authorities in New York State,” did not identify specific business in Ulster County that benefited from the exemptions.

Greene County’s IDA granted a total of $503,447 in sales tax exemptions to just two business, but the two are huge economic drivers for the county: the Hunter Mountain and Windham Mountain ski centers.

The Greene sales tax exemption total ranked second in the state but resulted in no new jobs, according to the report.

Greene County Industrial Development Agency Rene VanSchaack said the tax relief was granted with the expectation that, as a result, jobs will be retained in a critical industry for the county.

“I don’t think what comes out in the report is the value of the projects,” he said.

VanSchaack said that in granting the tax breaks, the Greene IDA also took into account competition from the state-owned Belleayre Mountain Ski Center in Ulster County. The Hunter and Windham ski centers are privately owned.

The Dutchess County IDA granted more than $55,000 in sales tax exemptions (29th in the state) and $$33,750 in mortgage recording tax exemptions (30th), according to the report.

The two Dutchess companies that benefited added a combined 61 jobs, the report said.